Customer: Mollie

How Plaid’s Integration with Mollie is Enhancing Merchant Experiences Across Europe

At Plaid, we’re driven by a commitment to simplify financial processes for businesses, which is why Mollie—a leading European payment service platform—chose us as their open banking provider. Mollie selected Plaid for our comprehensive European coverage and our reputation for strong support and reliability. These factors made Plaid the ideal choice to help Mollie improve their merchant onboarding process across the UK, Germany, and France.


Improving Onboarding Efficiency by 10% Across Europe

Mollie had previously relied on a "penny-drop" method to verify merchants' bank accounts—a method that required merchants to manually transfer a small amount to complete the verification. While effective, this process introduced friction, adding unnecessary steps and slowing down onboarding.

At Plaid, we offer a more seamless solution. Our open banking technology enables merchants to verify bank accounts quickly and securely, eliminating the need for manual transfers. This streamlined process not only saves time but also reduces the complexity for merchants, making it easier for them to get started with Mollie.

To assess the impact of a new integration, Mollie conducted an A/B test comparing the traditional verification method with Plaid’s solution. The results were clear: Plaid’s integration led to an increase in verified bank accounts, leading to a 10% increase in customer conversion across the UK, Germany and France. This improvement, not only underscores the value of a smoother onboarding experience, but directly benefits merchants by reducing delays and hassle for customers.


Enhancing Financial Flexibility with Mollie Capital

Plaid’s collaboration with Mollie extends beyond onboarding. By integrating Plaid, they have been able to launch their Total Revenue feature into Mollie Capital—a product offering merchant cash advance. Total Revenue gives access to additional revenue streams outside of Mollie, allowing them to provide customers with more comprehensive funding options.

Now merchants can secure faster, larger and more flexible funding to support their business growth. To do this safely, Mollie partners with YouLend who are experts in risk and credit underwriting. YouLend is also a customer of Plaid, using Plaid data products to get real-time and comprehensive customer information to provide faster financing with 90% approval rates and typical approvals within 48hrs, without affecting defaults.


Looking Ahead

This integration is just the beginning. We’re exploring new ways of enhancing Mollie’s product offerings and better serving their merchants in more markets across Europe. As we move forward, we’ll keep focusing on what matters most: making financial access easier and frictionless for businesses.

“Integrating Plaid's open banking solutions has been a game-changer for us. Their technology has enabled our teams to implement an effortless verification method in the onboarding process, significantly enhancing the user experience for our merchants and driving higher conversion rates across our growth markets.” Matthew Lewis, VP Operations at Mollie.